Management of investments in the renewable energy sector of the Republic of Moldova. 521.03 - Economics and management in the field of activity. Abstract of the PhD thesis in economic sciences
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2024
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Abstract
The overlapping of the current pandemic, economic, and energy crises is leading to a profound investment recession that will result in a decade of transformation for international production. In the context of the socio-technological transition towards new economic cycles and the need to adapt to and combat climate change, the urgency of debating the efficiency of political-economic models for managing investments oriented towards the renewable
energy sector is evident, arising from numerous angles of analysis of circular economy concepts as well as sustainable development. The growth of economies and the improvement of social development levels are based on investment processes that entail innovation, technological advancement, and digitalization [42]. The efficient management of investments oriented towards renewable energy sources (RES) is attracting increasing attention among academic communities, managers, and policymakers, especially due to attempts to readdress modern economic operating models, integrate sustainable development concepts into countries' economic development cycles, and adopt innovative approaches to market failures. In the Republic of Moldova, the RES energy sector represents an immature and underdeveloped market within the national energy system, indicating that the sector holds significant potential for growth and attracting foreign direct investments. In 2020, the renewable energy segment in the Republic of Moldova held a share of around 30% (equivalent to 877 thousand toe) of total energy supplies, or 24.3% (equivalent to 694
thousand toe) of the total final energy consumption. More than 98% of the renewable energy segment is represented by solid biofuels used in rural residential sectors for heating, which is a clear indicator of the immaturity of the sector. However, in recent years, there has been significant development in the sector considering that the Republic of Moldova was granted the candidate country status for EU accession, higher levels of funding from the international organizations, more assertive government promotion, and private sector commitment. This indicates that the market is ready to direct its investments towards the renewable energy sector. Thus, the comprehensive research of
theoretical and practical aspects aimed at improving the management models of investments in the renewable energy sector of the Republic of Moldova, as well as identifying existing bottlenecks and substantiating the priority directions for their modernization, acquires national strategic importance. Similarly, aligning with international development trends by identifying the mechanisms and policy instruments capable of improving the operational and development frameworks of the renewable energy sector in the Republic of Moldova could generate new models for managing investments in this sector.
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Academic Supervisor: TIMUȘ Angela, Scientific Secretary, Ph.D. in Economics, Research Associate Professor, INCE. Members of the specialized scientific council: STRATAN Alexandru, președinte, Doctor of Economics, University Professor, Corresponding Member; PERCIUN Rodica, Doctor of Economics, Research Associate Professor; CURTIS Michael, Ph.D. in Economics, Research Associate Professor; COVAȘ Lilia, Doctor of Economics, Research Associate Professor; TCACI Carolina, Ph.D. in Economics, Research Associate Professor. Text: lb. engl. Adnotare: lb.rom., engl., rusă. Referinţe bibliografice: pp. 34-37 (47 titl.). CZU: 005.8:330.322+ 338.45:620.322](478).
Keywords
economic growth, investment management, renewable energy, sectoral policies, investment risks, direct foreign investment, abstract of the PhD thesi
Citation
NASALCIUC, Irina. Management of investments in the renewable energy sector of the Republic of Moldova. 521.03 - Economics and management in the field of activity: Abstract of the PhD thesis in economic sciences. Academic Supervisor: TIMUȘ Angela, Scientific Secretary, Ph.D. in Economics, Research Associate Professor, INCE. Academy of Economic Studies of Moldova, National Institute of Economic Research. Chișinău, 2024. 41 p.